Your main aim as an entrepreneur is to grow and expand your company. Your daily energies should go into marketing, operations, finance, recruitment, mentorship, and product development. However, you can do none of these things if your company is taken down by an expensive and damaging lawsuit.
If your company is the target of a lawsuit, you must respond immediately. Such suits are not to be taken lightly and they will no go away if you ignore them. No matter how ridiculous or frivolous you find the suit, you must act with vigor and decisiveness to either dismiss or fight it.
Your First Steps
Your first move should be to contact a Business Litigation Attorney. A lawyer with extensive experience and expertise in this area of law will be able to offer you a range of options. It may be possible to resolve the dispute through mediation. Your lawyer may also advise you to settle the suit, if the other party is willing to accept a reasonable sum of money.
Your company will always be a target for litigation. As a business, you will be involved in complex relationships of all kinds, and some of the people you work with are bound to be disappointed or outraged by the decisions you make. Here are some of the common legal disputes you may find yourself having to deal with:
Breach of Contract
When you enter into a contract, the other party will closely watch and guard their rights. If they believe you have done anything that costs them money, they will sue you. Sometimes these matters can be resolved by renegotiating the contract. On other occasions, you might have to fight it out in court.
Disgruntled consumers often claim that the company they purchased something from misrepresented its size, shape, appearance, or functionality. You may also be sued by rentiers not happy with the amenities of the space they leased from you.
Allegations of discrimination, abuse, sexual harassment, and other complaints often lead to lawsuits. These can be especially harmful to your brand and reputation, so you must stay ahead of them. Indeed, any kind of wrongful termination lawsuit can make news. If this happens, all company statements should be made through your lawyer.
A specific name, title, concept, or design can be patented. Ideas, however, cannot. You may be sued for intellectual property theft. Many people make this claim without any evidence to back it up. A lawyer can help defend your company against such an allegation.
Your lawyer will help you analyze potential litigation both from a legal and financial standpoint. You should do your utmost to avoid prolonged court fights. They are very expensive and not good for the image of your company. On the other hand, you should not be forced to make high settlement offers for no good reason. Your attorney will work to find the best solution for the given situation.